Consumer
McDonald’s Results Hurt by Mideast War, Slowing US Growth
- Burger chain reports profit that falls just short of estimates
- Company is focusing on affordability to drive traffic
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McDonald’s Corp. results fell short of expectations in the first quarter, hampered by slowing growth in the US and the reverberations of the Israel-Hamas war.
Growth in comparable sales, a metric tracking restaurants open for over a year, was 1.9% — slower than analysts polled by Bloomberg anticipated. Each of McDonald’s geographic segments fell short of expectations on sales by that metric, including a slight miss in the key US market. The business unit that includes the Middle East recorded a decline.